House Stuff
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We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997John Simmons / outlaw programmer wrote:
The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage).
And this has nothing to do with your...
John Simmons / outlaw programmer wrote:
good supply of ammo to fend off the resulting zombie hordes
OK... ok... :rolleyes:
[www.tamelectromecanica.com] Robots, CNC and PLC machines for grinding and polishing.
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We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997John Simmons / outlaw programmer wrote:
just 12% of our take-home pay is required to pay our debt
That is very good indeed. We have a dept ratio of exactly 0%. No mortgage, CC's, loans or [just paid one I received today] outstanding bills. We now have enough saved for a 25%+ deposit on a 3-bed house in Surrey - ask the UKers how that figures - and hope to at least double that in the next year when I start my new job. Once you're mortgage free [or near as damit in your case] saving really does become easy. :thumbsup:
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
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John Simmons / outlaw programmer wrote:
just 12% of our take-home pay is required to pay our debt
That is very good indeed. We have a dept ratio of exactly 0%. No mortgage, CC's, loans or [just paid one I received today] outstanding bills. We now have enough saved for a 25%+ deposit on a 3-bed house in Surrey - ask the UKers how that figures - and hope to at least double that in the next year when I start my new job. Once you're mortgage free [or near as damit in your case] saving really does become easy. :thumbsup:
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
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John Simmons / outlaw programmer wrote:
just 12% of our take-home pay is required to pay our debt
That's pretty unusual. Normally, people pay more to get rid earlier of the mortgage loan.
We are already paying extra. 12% is the *required* expenditure. With the current state of the housing market, we're lucky enough that the house is worth more than we owe on it (by about 40%).
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
Not quite that much but close.
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
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John Simmons / outlaw programmer wrote:
just 12% of our take-home pay is required to pay our debt
That is very good indeed. We have a dept ratio of exactly 0%. No mortgage, CC's, loans or [just paid one I received today] outstanding bills. We now have enough saved for a 25%+ deposit on a 3-bed house in Surrey - ask the UKers how that figures - and hope to at least double that in the next year when I start my new job. Once you're mortgage free [or near as damit in your case] saving really does become easy. :thumbsup:
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
Yeah - that 12% is our current mortgage payment. We carry no balance on our credit cards, and both of our cars are paid off. No alimony or child-support to deal with, either. We did have a five-year $25K home improvement loan, but paid that off in less than two years. We're looking for a 2500+ sqft house on at least two acres of land. We expect to have to pay 250-300K for it.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
Yeah - that 12% is our current mortgage payment. We carry no balance on our credit cards, and both of our cars are paid off. No alimony or child-support to deal with, either. We did have a five-year $25K home improvement loan, but paid that off in less than two years. We're looking for a 2500+ sqft house on at least two acres of land. We expect to have to pay 250-300K for it.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997John Simmons / outlaw programmer wrote:
We're looking for a 2500+ sqft house on at least two acres of land. We expect to have to pay 250-300K for it.
Really? I'd think these days you could find one (quite) a bit lower. Well, I guess it depends on where you want it. My 2300sqft/2.1 acre was a bit under 200K three years ago just outside of Copperas Cove.
The enemy of my enemy of my enemy of my enemy is Kevin Bacon. My Mu[sic] My Films My Windows Programs, etc.
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We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
-----
"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997Well done, smug bastard. ;P
Dr D Evans "The whole idea that carbon dioxide is the main cause of the recent global warming is based on a guess that was proved false by empirical evidence during the 1990s" financialpost
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John Simmons / outlaw programmer wrote:
We're looking for a 2500+ sqft house on at least two acres of land. We expect to have to pay 250-300K for it.
Really? I'd think these days you could find one (quite) a bit lower. Well, I guess it depends on where you want it. My 2300sqft/2.1 acre was a bit under 200K three years ago just outside of Copperas Cove.
The enemy of my enemy of my enemy of my enemy is Kevin Bacon. My Mu[sic] My Films My Windows Programs, etc.
The same house today would probably run you at least 230k, and you're out in the middle of frakking nowhere. :) We're looking around in the Adkins / St Hedwig / La Vernia / China Grove areas of San Antonio.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997Congrats on the good finances. I accrued a bunch of debt for about a half decade (school, car, bed, medical bills, etc) and am only now making some progress toward paying it all off (my total debt is around $47K, down from $57K last year). Gonna be a few more years for me; hopefully I'll be back to $0K by the time I'm 30. I'll probably go back to school at some point and get myself some more debt.
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S<T>::f(U) // Out of line.
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The same house today would probably run you at least 230k, and you're out in the middle of frakking nowhere. :) We're looking around in the Adkins / St Hedwig / La Vernia / China Grove areas of San Antonio.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
Not quite that much but close.
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
Not quite that much?? 100k won't get you the shittiest of shitty apartments here! Ok I'm lying, it will, but it will, but it will be actually unlivable. "Barely acceptable" begins at 150k, normal houses are at least 200k, nice houses at least 500k and I haven't seen many villa's for significantly less than a million.
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Not quite that much?? 100k won't get you the shittiest of shitty apartments here! Ok I'm lying, it will, but it will, but it will be actually unlivable. "Barely acceptable" begins at 150k, normal houses are at least 200k, nice houses at least 500k and I haven't seen many villa's for significantly less than a million.
I was talking about the savings. We think 300-400 will get us a nice place.
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
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I was talking about the savings. We think 300-400 will get us a nice place.
Panic, Chaos, Destruction. My work here is done. or "Drink. Get drunk. Fall over." - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre Have a bit more patience with newbies. Of course some of them act dumb -- they're often *students*, for heaven's sake. -- (Terry Pratchett, alt.fan.pratchett)
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We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997John Simmons / outlaw programmer wrote:
our credit scores are both over 825
Congratulations. You are now the target of every credit card company on the planet. :)
Best wishes, Hans
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We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
-----
"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
-----
"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
We're refinancing our house at a 1.2% lower than our current loan, and to get it off the VA books. That's a good thing. Once that goes through (and it shouldn't be a problem because our credit scores are both over 825 - max possible is 850), we're going to buy another house using my VA benefits again, and rent the current one out (rent will be $300-500 more per month than the actual mortgage payment on the house). The mortgage loan guy said we have the 2nd highest credit score he's ever seen, and we have the lowest expenditure percentage he's ever seen (just 12% of our take-home pay is required to pay our debt, which is limited to just the current mortgage). Assuming we make it past the end of the Mayan calendar relatively unscathed, and assuming that the surviving population is still trading with paper money instead of shiny rocks and animal teeth, we plan on selling the rental house in a coupe of years. If none of that happens, I have a good supply of ammo to fend off the resulting zombie hordes. Ahhh, the lives of the not so rich and famous...
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997You sound like you are in a similar boat to us - only bill we currently have is our house, and unfortunately we owe more than it is worth. Cleveland's area housing market has really sunk since 2007. Our house is now worth 50K less than we paid for it. Our mistake was buying in 2004, but who knew. One advantage of our situation is that we are now in a position to buy a home in the Orlando area since they have fallen so much and with all the foreclosures there we can buy a home similar to ours now for about 80K - including an inground pool with covered lanai. This same house sold for 250-300K a couple of years back. We are looking to do this in January or so. We actually looked at some houses when we were down there a couple of months ago. It really is amazing how it has fallen apart down there. We saw one house on a golf course that was sold in 2005 for 400K and they were asking 180K for it. Like a mansion.... The nice thing is we will be able to almost pay cash for the Florida house and move there renting out the one we live in now until it recovers or we owe less than it is worth to sell it.
